RMR Wealth Builders Sells 26 Shares of McKesson Co. (NYSE:MCK)

RMR Wealth Builders trimmed its stake in McKesson Co. (NYSE:MCK) by 5.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 445 shares of the company’s stock after selling 26 shares during the period. RMR Wealth Builders’ holdings in McKesson were worth $253,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. lifted its position in shares of McKesson by 140.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,992 shares of the company’s stock valued at $1,747,000 after buying an additional 1,747 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of McKesson by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 395,150 shares of the company’s stock worth $230,821,000 after acquiring an additional 21,832 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in McKesson by 0.3% during the second quarter. Mutual of America Capital Management LLC now owns 20,394 shares of the company’s stock valued at $11,911,000 after acquiring an additional 63 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in McKesson by 16.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 65,412 shares of the company’s stock valued at $38,176,000 after acquiring an additional 9,263 shares in the last quarter. Finally, Waterloo Capital L.P. purchased a new position in McKesson in the second quarter worth $246,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Finally, Evercore ISI boosted their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Stock Performance

NYSE:MCK opened at $594.62 on Friday. The firm’s fifty day moving average is $595.77 and its two-hundred day moving average is $561.06. The firm has a market cap of $75.48 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 1.26 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.23 EPS. As a group, equities research analysts predict that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s dividend payout ratio is presently 14.71%.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.11% of the company’s stock.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.